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Pacific Ethanol/GERS suit~Lumped In/With the Other 20
Deep Pocket Outfits
www.jpml.uscourts.gov/sites/jpml/files/MDL-2181_2013-12-13-Transfer_ Order.pdf
YA Globals $25M Payment Is Due from GERS Dec. 31st 2013
Pacific Ethanol initiated with a Neutral at Sidoti
Pacific Ethanol initiated with a Neutral at Sidoti http://t.co/n5JD9SCgEc
PEIX live audio webcast@LD Micro Conference December 3
Pacific Ethanol to Present at the LD Micro Conference on December 3, 2013
Pacific Ethanol, Inc. (PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, announced management will present at the LD Micro Conference at the Luxe Sunset Bel Air Hotel in Los Angeles on Tuesday, December 3, 2013 at 11:30 a.m. Pacific Time.
A live audio webcast of the company's presentation will be available on the investor relations section of the company's website at www.pacificethanol.net starting at approximately 11:30 a.m. Pacific Time/2:30 p.m. Eastern Time on Tuesday, December 3, 2013.
fourth USDA Sugar Auction Dec. 11 at 1:30 p.m. central time.
In its fourth invitation to purchase sugar under the FFP, the CCC has reduced the minimum quantity for bids to 5,000 tons. Sugar offered under the invitation can be sold for use in bioenergy production or for other non-food uses, such as pet food or to livestock and bee feed suppliers.
The CCC is offering 159.5 bounds of sugar for sale under the fourth invitation, including 69.5 million pounds of refined beet sugar and 90 million pounds of raw cane sugar. Offers must be received by Dec. 11 at 1:30 p.m. central time.
(Maybe We Get Some for Madera)
USDA Sugar 2 cents per pound
http://t.co/zr6aU2Fvb0
The Best to All,Happy Thanksgiving
Neeley Biofuels is posting a net gain of 92.4 cents per gallon.
Ethanol plant profitability surged sharply higher following the most recent aggressive support in rack ethanol prices. Double-digit gains in rack prices early this week have led to uncertainty about how stable the market will be following the Thanksgiving holiday. Neeley Biofuels is posting a net gain of 92.4 cents per gallon. The hypothetical plant is used to measure how changes in commodity markets might affect actual plant margins.
DTN Daily Ethanol Comments
Ethanol Futures Slip on Corn Losses
Rick Kment DTN Analyst
Tue Nov 26, 2013 04:26 PM CST
Ethanol futures posted moderate losses as traders focused more on the renewed pressure in corn prices than the wide ride seen in front-month ethanol futures over the last couple of sessions. December contracts posted a 2.9 cent-per-gallon loss, closing at $1.93 a gallon. But the 6 cent loss in corn futures impacted the rest of the complex much more significantly with losses of 4.4 to 4.9 cents per gallon. There is uncertainty as to just how much additional activity will be seen through the complex over the next couple of sessions surrounding Thanksgiving.
RBOB gasoline futures posted fractional gains as traders focused on the upcoming holidays and less on any wide shifts in markets over the last couple of sessions. December futures posted a 0.62 cent-per-gallon bounce higher, closing at $2.6869 a gallon. The lack of support through the complex is not surprising, but is not expected to draw additional interest into the market Wednesday. Other markets were limited to narrow gains also with very little overall trade interest developed during the session.
Crude oil futures posted another lower close Tuesday, which is starting to create uncertainty about just how much support is under the recent market bounce seen over the last couple of weeks. January futures closed 41 cents per barrel lower, at $93.68 per barrel. This pressure was uniform through the complex with most nearby contracts posting similar losses. There is very little additional interest expected to develop before the end of the month as most traders have already positioned holdings before the holiday break.
Spot ethanol prices continue to follow the trend seen Monday of moderate to sharp losses. Prices fell an additional 19 cents per gallon in the Midwest while other locations posted losses of 6 to 8 cents per gallon. Traders are looking for additional direction through the week which could see very little trade before the Thanksgiving break.
Ethanol rack prices started to back away from sharp gains the last two days, although mixed prices were seen at state levels. The national average rack price fell 1.3 cents per gallon to $2.7764 a gallon. There is expected to be some additional shifts in prices over the coming days, but trade volume is expected to be very light over the holiday break and into the weekend.
Ethanol plant profitability surged sharply higher following the most recent aggressive support in rack ethanol prices. Double-digit gains in rack prices early this week have led to uncertainty about how stable the market will be following the Thanksgiving holiday. Neeley Biofuels is posting a net gain of 92.4 cents per gallon. The hypothetical plant is used to measure how changes in commodity markets might affect actual plant margins.
www.dtnprogressivefarmer.com/dtnag/common/link.do?symbolicName=/free/news/template1&product=/ag/news/ethanol/commentary&vendorReference=0702BB21&paneContentId=35&paneParentId=0
Important tax implications for ethanol
On Nov. 4, 2013, the IRS Office of Chief Counsel issued a memorandum providing that claiming section 6426(c) excise tax credits does not result in taxable gross income under section 61. As a result, many in the petroleum and ethanol industries may be eligible for federal income tax refunds for all open tax years in which they reported these credits.
IRS Memorandum No. 201342010 2013-43 states by reporting section 6426(c) excise tax credits and/or the section 6427(e) excise tax payment instead of the section 40A income tax credit, a biodiesel blender is not required to include in its gross income the amount of the excise tax credits and/or the excise tax payments that it claims.
Many of those in the petroleum and ethanol industries have taken advantage of section 6426(c) credits (which allows a credit for the number of gallons of biodiesel used in production of qualified biodiesel mixture), but they may not have been aware of the potential to exclude this credit from gross income.
Because most taxpayers still have open statutes of limitations for 2010, 2011, and 2012, it is important for blenders and their suppliers and retailers to understand procedures for excluding biodiesel blender credits from income in prior years in order to claim any potential tax refund.
----
Excise Tax Credit: relate to the 45 cent per gallon tax credit available to producers of corn-based ethanol ended in Dec. 2011.
What do you mean by "Open Tax Years"?
The IRS generally has 3 years (statute of limitations), from the date of filing.
years 2010 through 2013, as those years are still open under the 3-year time limit.
------
Years 2010 thrue Excise Tax Credit ended in Dec. 2011 , Pacific Ethanol may be eligible for federal income tax refunds.
Pacific Ethanol may not have been aware of the potential to exclude this credit from gross income.
On Nov. 4, 2013, the IRS Office of Chief Counsel issued a memorandum to rectify over payment of tax.
http://www.bakertilly.com/insights/important-tax-implications-for-petroleum-and-ethanol-industries/ …
Sorry,Didn't See your Post
Didn't Mean to Re Post
Pacific Ethanol Makes Another Sugar Purchase from USDA
http://y.ahoo.it/rEpFR5xf
Ethanol plants buy sugar at discount
Dow Jones Newswires
11/23/2013 @ 12:50pm
The U.S. Department of Agriculture said Friday it sold sugar to domestic ethanol makers at an almost 90% discount.
The sale was the third this year under a government program outlined in the 2008 farm bill that aims to boost prices for the sweetener.
The program requires the agency to buy sugar and sell it to domestic biofuel producers if it believes sugar processors might default on their government operating loans. When processors default, they forfeit sweetener that was put up as collateral. The most recent sale took nearly three-quarters of the sugar in the USDA's possession off its books after processors defaulted on loans at the end of September.
For refiners, the sale provides a cheap feedstock at a time when ethanol prices are low. Futures rebounded only recently from three-year lows hit earlier this month, as a record U.S. corn harvest flooded producers with supplies. Ethanol futures traded Friday at $2.035 a gallon, well below the summer's high of $2.744 a gallon.
But most ethanol plants run on corn, and switching to sugar isn't always easy. Sugar is more volatile than corn and highly flammable. The sweetener can be abrasive to a plant's equipment, and its processing could violate local permits for air emissions.
"We've had a chemical engineer working on (adapting some of the equipment for sugar) for the last month, so it's not necessarily a simple process," said Mark Beemer, president of Aventine Renewable Energy Inc., a Pekin, Ill.-based producer that bought 165,250 tons of sugar between the September and November sales, the most of any ethanol maker.
All of the plants that bought sugar in the three sales factored some kind of retrofitting into their bid prices, which was part of the reason the USDA has been selling the sweetener at a discount to the sugar processors' loan rates.
Another reason for the steep discounts in the USDA sales is that the pool of bidders isn't very large. Most U.S. ethanol plants are in or near corn-growing areas of the U.S., like Iowa and Illinois, which are typically far from the sugar-cane and beet growing areas, like Florida and North Dakota, which has reduced participation in the sales, industry experts said.
Aventine, Pacific Ethanol Inc. and CIE bought the combined 216,750 tons that the USDA sold this week. The three also purchased the sweetener in the September sale.
Pacific Ethanol, a Sacramento, Calif.-based producer, bought the most sugar from the USDA in its September tender--about 84,000 tons that primarily had been forfeited by Amalgamated Sugar Co., an Idaho-based sugar-beet processor that defaulted on $17 million in government loans at the end of September.
That sugar is located less than 10 miles from Pacific Ethanol's Idaho plant--the major factor in its decision to purchase the sweetener, said Neil Koehler, the company's president and chief executive. Pacific Ethanol paid between 3.5 cents and 4.5 cents a pound for that sugar and plans to start mixing it into its corn feedstock next month, after it finishes installing a tank that will feed the sweetener into the plant.
On Friday, the USDA reported that Pacific Ethanol bought another 51,500 tons at the lowest price accepted under any sale -- just 2 cents per pound.
Another factor that ethanol makers take into consideration is that processing sugar yields no by-products like corn oil or distillers grains, which are sold as feed for livestock.
The biofuel plants that have started running the sugar say it is meeting the metrics that they originally had set out.
"We'd be cautiously optimistic about its prospects on a large scale," said Ryan Drook, the chief executive of CIE, an ethanol maker in Marion, Ind., that bought 30,000 tons of sugar from the USDA this week, after purchasing just 50 tons in September. "But we would never run 100% sugar."
Another Insider Buy MCGREGOR http://t.co/xuANG93tlM
West Coast Corn Crush Margins Expanding
http://t.co/TYW0Ulm3Gr
The 5 accredited investor , the Warrant Buyers , Capital Ventures , Iroquois capital
Hedged against their Warrants and Sold Short , Causing a High short Intrest.
(Shorting Against the Box)
I'm Sure they Anticipated Making Money Going the Other Way UP , maybe this Last earnings.
there are Warrants that Expire in January.
http://i40.tinypic.com/2iu9mqh.jpg
they May have Thought they Were Going Up on Earnings Like We Did.
When Neil Faked the Loss ,they Probably Realized they Could Short more as next earnings is more than 5 months away.
It Is Possible the Warrant Buyers and Accredited Investors are Causing a Stir with PEIX Management like has been said.
My Thinking is they Want those January Warrants Excercised before next Quarters Earnings.
ALL just thoughts and Speculation Jack , I don't Know this to be True.
Just a Guess.
Shares of Pacific Ethanol Rank the Highest in Terms of EV/EBITDA Ratio in the Oil & Gas Refining & Marketing Industry (PEIX, XTEX, NS, RTK, INT)
http://t.co/eh5qGebTcz
Written on Wed, 11/20/2013 - 5:37am
By Amy Schwartz
Below are the three companies in the Oil & Gas Refining & Marketing industry with the highest enterprise value to EBITDA (EV/EBITDA) ratios. EV/EBITDA is an important metric used in valuing comparable companies. It is capital structure neutral and generally the lower the ratio, the more undervalued the company is believed to be.
Pacific Ethanol ranks highest with a an EV/EBITDA ratio of 23.57. Crosstex Energy is next with a an EV/EBITDA ratio of 17.97. NuStar Energy ranks third highest with a an EV/EBITDA ratio of 15.25.
Insider Purchase $2.55 per/share $38,250.00 purchase
Insider Purchase Details:http://y.ahoo.it/N8wrSnM1
Neil M Koehler, The President & Ceo of Pacific Ethanol, Inc. purchased 15,000 shares of common stock at an average price of $2.55 per share, making this a $38,250.00 purchase on the open market.
Crush Margin http://t.co/TYW0Ulm3Gr
Neil More free shares
PACIFIC ETHANOL, INC.
Reporting Owner : KOEHLER NEIL M 4 11/19/2013
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
KOEHLER NEIL M 2. Issuer Name and Ticker or Trading Symbol
Pacific Ethanol, Inc. [ PEIX ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director _____ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
President & CEO
(Last) (First) (Middle)
400 CAPITOL MALL #2060 3. Date of Earliest Transaction (MM/DD/YYYY)
11/19/2013
(Street)
SACRAMENTO, CA 95814
(City) (State) (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/19/2013 P 15000 A $0 318576 D
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
KOEHLER NEIL M
400 CAPITOL MALL #2060
SACRAMENTO, CA 95814 X
President & CEO
Signatures
/s/ Neil M. Koehler 11/19/2013
** Signature of Reporting Person Date
secfilings.nasdaq.com/filingFrameset.asp?FileName=0001019687-13-004511%2Etxt&FilePath=%5C2013%5C11%5C19%5C&CoName=PACIFIC+ETHANOL%2C+INC%2E&FormType=4&RcvdDate=11%2F19%2F2013&pdf=
ADM Not Sweating Ethanol Mandate, CEO Says ~ Whatever EPA does, Woertz tells investors in a presentation Wednesday, "exports will grow," as low corn prices encourage Brazil, Canada, Europe and even the Middle East to tap what Woertz calls the "cheapest transportation fuel in the world."
(Reuters) - U.S. production of corn-based ethanol could reach 14 billion gallons in 2014 because of positive margins for processors and demand from buyers, Archer Daniels Midland Co's chief executive said on Wednesday.
Production could be "in the 14 billion range" even if the U.S. Environmental Protection Agency (EPA) lowers its target for use of renewable fuels, ADM CEO Patricia Woertz said in a webcast of a Morgan Stanley conference. Illinois-based ADM is the top U.S. ethanol producer.
The EPA is expected to propose new targets for its Renewable Fuel Standard (RFS) as early as this week.
"Regardless of where the RFS comes through, we see it as a period where you can have positive margins," Woertz said of the coming year.
U.S. farmers are harvesting a record-large corn crop this year and replenishing inventories depleted by last year's historic drought. The influx of supply has pushed corn futures to three-year lows and ethanol margins to their highest level since late 2009, the last year of a record corn harvest.
The EPA has considered a proposal that would set next year's target for use of renewable fuels at 15.21 billion gallons, according to a leaked draft of the proposal. That would be less than the 18.15-billion gallon 2014 target established in the law.
At 15.21 billion gallons, the proposal would leave room only for some 13 billion gallons of corn-based ethanol to be blended into the nation's gasoline supply, down from 13.8 billion this year and 14.4 billion required by law for 2014.
"Keep in mind that the industry produced 14 billion gallons before, even though the mandate was only 12.8, back in 2011," Woertz said. "It could be another example of the industry producing to meet market demand."
The EPA has said gasoline blended with as much as 15 percent ethanol, or E-15, is safe for vehicles made in 2001 or later. But oil refiners have argued the blend could damage car engines, and few gas stations sell it outside of the Corn Belt.
Cheaper corn and ethanol prices "will allow more retail outlets to see the economic opportunity for them to do it on, maybe not a one-by-one basis, but maybe in larger numbers," Woertz said about adding E15 pumps.
$PEIX withstands up-to-date 0.3 price action indicator - http://t.co/rld10W4MOM
EPA to consider changes to advanced biofuel draft • 10:47 AM
Obama administration officials, under pressure from producers of advanced biofuels, reportedly have told industry reps that they’re considering raising the quota for their product next year above what was contained in an August draft plan.
EPA officials are said to have indicated plans to offer a range for the mandate that would allow it to increase from the 2.21B gallons set in the leaked draft plan, but the range could still leave the final quota below the 3.75B gallons set by the 2007 legislation establishing the program.
----
EPA Said to Consider Changes to Advanced Biofuel Draft
By Mark Drajem, Lucia Kassai & Mario Parker - Nov 14, 2013 9:00 PM PT
Obama administration officials, under pressure from advanced-biofuel producers and farm-state lawmakers, have told industry representatives that they’re considering raising the quota for their product next year above what was contained in an August draft plan.
Officials from the Environmental Protection Agency told them they plan to offer a range for the mandate that would allow it to increase from the 2.21 billion gallons set in the draft, according to two participants in the meetings who asked not to be identified because the discussions were private. The range, as much as 1 billion gallons more, may still leave the final quota below the 3.75 billion gallons set by 2007 legislation establishing the program.
Depending on the specifics, “that would be a huge change, particularly for domestic biodiesel makers,” said Scott Irwin, a renewable fuels specialist at the University of Illinois who hasn’t seen the August draft, which was obtained by Bloomberg last month. “In the longterm, it would not be seen as quite the negative signal as the leaked document.”
Advanced biofuels, such as biodiesel and Brazilian ethanol, are part of a larger program for renewable fuels that is anchored by corn-based ethanol.
Corn growers and the ethanol industry are also pushing for an increase in the 13 billion-gallon quota called for in the August plan, which is below the 14.4 billion gallons in the law. The EPA has the ability to adjust the quotas in response to market pressures.
Refiner Complaints
The EPA, responding to complaints from refiners and fossil-fuel oil producers, has proposed reducing the amount of renewable fuels that refiners must blend into gasoline and diesel next year, according to the August draft.
Refiners, fast-food restaurants, motorboat makers and chicken farmers have all pushed the EPA to scale back the ethanol mandate, saying it risks ruining engines by forcing more ethanol to be blended into gasoline.
The administration of President Barack Obama has held 22 meetings with outside groups about the 2014 mandates, according to Office of Management and Budget records. Seventeen have taken place since the draft emerged -- 11 with renewable fuel makers such as DuPont Co. (DD) and Abengoa SA (ABG) trying to fend off the reductions. Those companies say they will begin to make fuels from corn stalks and other waste products next year, which would qualify them as advanced renewable fuels.
Next Generation
The industry officials said the EPA is listening to those concerns and has pledged to preserve a market for what is dubbed as “next generation fuels.” In presenting a range, it would allow outside groups to weigh-in over the next two months, and EPA to make its final decision later.
New pressure was put on the Obama administration late yesterday, as a group of 32 senators pressed for EPA to raise, not lower, production quotas.
“In setting 2014 targets for biodiesel, the EPA should avoid outcomes that could lead to plant closures, worker layoffs, and uncertainty over future investments in the biodiesel industry,” the lawmakers, led by Democratic Senator Patty Murray of Washington, said in their letter. “We urge you to continue to support this fragile and growing industry.”
Refiners, which have battled the corn ethanol mandate haven’t fought so hard against biodiesel, as it doesn’t present the same constraints as ethanol. Escalating the required amount of ethanol may force refiners to sell blends with more than 10 percent of the corn-based fuel, a phenomenon known as “hitting the blend wall,” according to the American Petroleum Institute.
Fuel with more than 10 percent ethanol can cause engine materials to break down and damage emission-control systems, according to the Washington-based group that represents companies such as Exxon Mobil Corp. (XOM)
http://t.co/ya5lpzh5BN
Pacific Ethanol reports positive third quarter results
By Holly Jessen | November 14, 2013
Looks Like a Reverse 2011 , Why?
Prospectus Supplement November 13, 2013 2,200,002 Shares
secfilings.nasdaq.com/filingFrameset.asp?FileName=0001019687-13-004270%2Etxt&FilePath=%5C2013%5C11%5C13%5C&CoName=PACIFIC+ETHANOL%2C+INC%2E&FormType=424B3&RcvdDate=11%2F13%2F2013&pdf=
Hi corn basis for Q3 referenced in uncommon equities report
$1.50 corn basis reduction from Conf. Call
"Although an historically high differential between Chicago Board of Trade (CBOT) corn futures prices and the price local farmers are getting (known as the corn basis) is restricting third quarter margins, we look for a more normal corn basis as well as lower CBOT prices in the fourth quarter and expect a major improvement in ethanol margins as what may prove to be a record harvest comes to market."
Uncommon Equities Report On Tue, Aug 20
www.uncommonequities.com/uploads/PEIX_Update3.pdf
GPRE,REX,PEIX,GEVO,SYMX falling On EPA Mandate Scare(Charts)
http://finviz.com/chart.ashx?t=GPRE&ty=c&ta=1&p=d&s=l
http://finviz.com/chart.ashx?t=REX&ty=c&ta=1&p=d&s=l
http://finviz.com/chart.ashx?t=PEIX&ty=c&ta=1&p=d&s=l
http://finviz.com/chart.ashx?t=GEVO&ty=c&ta=1&p=d&s=l
http://finviz.com/chart.ashx?t=SYMX&ty=c&ta=1&p=d&s=l
Ethanol Producers Nervously Await EPA Ruling on 2014 Target
http://finviz.com/quote.ashx?t=PEIX&ty=c&ta=1&p=d&b=1
http://finviz.com/quote.ashx?t=GEVO&ty=c&ta=1&p=d&b=1
http://finviz.com/quote.ashx?t=SYMX&ty=c&ta=1&p=d&b=1
Thanks for That Rule
Don't Think they Want to Give Up $5M,but we will See.
Short Interest 2,117,972
Settlement Short Interest
Date
10/31/2013 2,117,972
10/15/2013 2,007,891
9/30/2013 1,892,046
9/13/2013 1,767,035
8/30/2013 1,789,560
8/15/2013 1,480,022
7/31/2013 1,197,865
7/15/2013 1,121,704
6/28/2013 1,056,435
6/14/2013 937,223
5/31/2013 844,206
~ corn basis decline of $1.50 then X 13M bushels of corn consumption In Q4
~ $6.9M Sugar Bought for Pre Paid Feedstocks
~ $1 million a year savings from Retired $8.5M Debt
~ $3 million Co. estimate pre-lock CORN Hedge
~ $4.5M annually Magic Valley plant Corn Oil
~ $4.5M annually Stockton plant Corn Oil
~ Continued Sorghum feedstock cost Savings
~ Cellunator will increase the ethanol yield at the Stockton plant with 3.5% 15,000,000 gallons per Q / 100 * 3.5 = 525,000 gallons
~ SG&A expenses Decreased to $2.5 million from $2.9 in 2012
~ Adjusted EBITDA improved to positive $3.4 million
~ Total Stockholder Equity Increased $14,636,000 to $80,155,000
~ Total Stockholders' Equity $80,155,000
GPRE after they Announced Corn Hedge Last Year,Down then UP! http://t.co/gOWUGQLNZC
I think it Was Just for That Day Dutch
Short Sale Circuit Breaker http://t.co/oXnlIOlnxp
$6.9M sugar purchase as a Prepaid Inventory in Q3
purchase price of $6.9M sugar from the USDA reported as a Prepaid Inventory in Q3.
http://t.co/n4KOnW02Ut
Sugar Costs are FRONT Loaded and Will Produce 12 Million Gallons from pre paid feedstocks
12 MILLION GALLONS at Even $2 per gallon Is $24 million Dollars Income for Which the Feedstocks Are
Already Paid for.
~ Pacific Ethanol buys 167 million pounds of sugar from USDA ~
Since They Booked The Cost of the Sugar in Q3 , There May be a Hedging Gain Next Quarter When the Sugar is Marked to Market.
Prepaid Inventory Increased the Amount of the Sugar Hedge between Q2 and Q3 10-Q
Aprox. +/- some Corn
in thousands
Prepaid inventory
September 30, 2013
11,232 http://t.co/fvQegXtze9
Prepaid inventory
June 30,2013
6,338 http://t.co/I4iW2kIMmi
~ $1 million a year savings from Retired Debt
~ $3 million in feedstock cost savings from Raw Sugar thrue 2014
~ $4.5M annually Magic Valley plant Corn Oil
~ $4.5M annually Stockton plant Corn Oil
~ Corn Basis Went Down $1.50 per bushel In Starting in Q4
~ Continued Sorghum feedstock cost Savings
~ Cellunator will increase the ethanol yield at the Stockton plant with 3.5% 15,000,000 gallons per Q / 100 * 3.5 = 525,000 gallons
~ SG&A expenses Decreased to $2.5 million from $2.9 in 2012
~ Adjusted EBITDA improved to positive $3.4 million
~ Total Stockholder Equity Increased $14,636,000 to $80,155,000
I Think They Can Make Money Going Forward
Since They Booked The Cost of the Sugar in Q3 , There May be a Hedging Gain Next Quarter When the Sugar is Marked to Market.
Maybe this Is the Last Of the Shenanigans.